Vitalik Buterin compares Bored Ape Yacht NFT collection with gambling.

19th March 2022

Ethereum co-founder Vitalik Buterin slammed the famous Bored Ape Yacht NFT collection in a recent interview with Time Magazine.

“The peril is you have these $3 million monkeys and it becomes a different kind of gambling,” 28 year old crypto billionaire told the magazine.

With over $1.4 billion in total volume trade, Bored Ape Yacht Club NFT collection is among the leading NFT collections on the Ethereum network.

Jimmy Fallon, Steph Curry, Post Malone and Eminem are among the few high-profile celebrities who own BAYC NFT collection.

Vitalik Buterin has high hopes for better use cases of the blockchain technology and crypto. He sees crypto donations to Ukraine amid the ongoing war as a silver lining for the fintech space.

Fairer voting systems, urban planning and universal basic income are among the few things he hopes Ethereum network could help with in the future.

“I would rather Ethereum offend some people than turn into something that stands for nothing,” Ethereum co-founder told TIME.